Relates to the ability to issue certain bonds and notes

Latest action Mar 7, 2025

Allows the New York state medical care facilities finance agency to issue one billion eight hundred thousand dollars more of certain bonds and notes.

Not chosen yet

Where it stands

Signed into law.

Introduced
In committee
Up for a vote
Passed one chamber
Passed
Enacted

New York State Senate

Same as A3224, the matching bill in the Assembly.

Passed as A3224, the matching Assembly bill.

Committee

Corporations, Authorities and Commissions · New York State Assembly

Also referred to Corporations, Authorities And Commissions · New York State Senate.

Purpose, from the sponsor's memo

To increase the bond ceiling for the Dormitory Authority of the State of New York by $1.8 billion

Filed with the bill. Read it on nysenate.gov (opens in a new tab)

Recorded votes

Vote: Committee vote · Rules
Senate RulesMar 4, 2025Result: passed
(20) (0) (0) (1)
Vote: Floor vote
NY SenateMar 4, 2025Result: passedSenate vote on A3224, the matching Assembly bill.
(61) (0) (0) (2)

Cosponsors

Lea Webb

Democratic1

Lea Webb

See the full list on nysenate.gov

The sponsor's argument

Why Leroy Comrie says this is needed

This bill is necessary to ensure that upgrades to medical facilities can remain funded through 2025. Under current law, DASNY is authorized to issue hospital and nursing home project bonds and notes under the MCFFA Act in the aggregate amount of up to $18.2 billion. DASNY issues such bonds and notes to fund loans to not-for-profit hospital and nursing home corporations. This authorization was most recently increased by $800 million (from $17.4 billion to $18.2 billion) in 2023. Previously the existing bond cap was increased by $800 million in 2021; 2018; 2011; 2009; 2008. In recent years, DASNY has seen increased activity in the bond market in both the number and dollar amount of healthcare financings. In July of 2024, DASNY had available approximately $1.367 billion of bond cap for healthcare transactions. Subsequently, several hospitals contacted DASNY regarding their financing needs. As of mid-September 2024, the DASNY Board has authorized three new MCFFA financings which will utilize cap in the amount of $1.222 billion leav- ing DASNY with MCFFA bond capacity of approximately $145 million. Unfor- tunately, that is not enough for new MCFFA projects across New York in the near term.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.

Full history

Mar 7, 2025
Sent to the executive
DELIVERED TO GOVERNOR
NY Assembly
Mar 7, 2025
Signed
SIGNED CHAP.101
NY Assembly
Mar 4, 2025
In committee
COMMITTEE DISCHARGED AND COMMITTED TO RULES
NY Senate
Mar 4, 2025
Ordered to Third Reading CAL.443
ORDERED TO THIRD READING CAL.443
NY Senate
Mar 4, 2025
Passed a chamber
PASSED SENATE
NY Senate

Show full history (9 earlier events)

Mar 4, 2025
Substituted
SUBSTITUTED BY A3224
NY Senate
Feb 20, 2025
Amend and Recommit to Corporations, Authorities and Commissions
AMEND AND RECOMMIT TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
NY Senate
Jan 28, 2025
Sent to the executive
DELIVERED TO SENATE
NY Assembly
Jan 28, 2025
Passed a chamber
PASSED ASSEMBLY
NY Assembly
Jan 28, 2025
Referred to committee
REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
NY Senate
Jan 28, 2025
Reported out of committee
REPORTED REFERRED TO WAYS AND MEANS
NY Assembly
Jan 28, 2025
Rules Report CAL.88
RULES REPORT CAL.88
NY Assembly
Jan 23, 2025
Referred to committee
REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
NY Assembly
Jan 8, 2025
Referred to committee
REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
NY Senate

About this record

Summary: The summary comes from NY Open Legislation, the New York State Senate's public record. For more, see How we handle summaries.
Cosponsors: The list shows the cosponsors who are on Agora, A to Z. The official record may list more.
Party colors: Parties are shown in the same neutral colors.
Source: From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 21, 2026. About our data

Read the record

Read on NY Senate (opens in a new tab) The official record on nysenate.gov.

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